(Yicai) Dec. 19 -- Shenzhen’s imports and exports reached CNY4.1 trillion (USD561.7 million) in the first 11 months, surpassing the CNY4 trillion mark for the first time and putting the Chinese hi-tech hub on course to regain the title of "China's No. 1 Foreign Trade City" after a 10-year hiatus.

Shenzhen’s foreign trade expanded 17.4 percent in the 11 months ended Nov. 30 from a year earlier, according to data recently released by Shenzhen Customs.

Both the value of imports and exports hit new highs for the period. Exports soared 16 percent to CNY2.5 trillion (USD342.5 billion), while that of imports surged 19.8 percent to CNY1.5 trillion (USD205.5 billion).

The Association of South-East Asian Nations was Shenzhen’s top trading partner, with foreign trade expanding 24 percent in the first 11 months year on year to CNY684 billion (USD93.7 billion). Hong Kong followed with imports and exports swelling 12.2 percent to CNY642 billion, and the US was in third place with trade growing 11.5 percent to CNY428 billion.

Trade with other parts of the world also boomed. Imports and exports to and from Latin America soared 22.6 percent to CNY212.5 billion (USD29.1 billion), while that to and from Africa surged 16.4 percent to CNY96.7 billion.

Some 70.4 percent of the city’s exports over the period were of mechanical and electrical products. These exports surged 12.7 percent to CNY1.8 trillion (USD246.6 billion). Of this, exports of electric cars jumped 42 percent to CNY27.9 billion (USD3.8 million).

Exports of labor-intensive products surged 24.6 percent to CNY328.1 billion (USD44.9 billion) and accounted for 12.7 percent of all exports.

Cross-border e-commerce is one of the biggest drivers of Shenzhen's growth in foreign trade. Shenzhen has the most cross-border e-commerce export firms in the country at over 150,000, of which 13 are listed.

The volume of parcels delivered to other countries and regions soared 50 percent in the first half year on year to 717.7 million pieces, accounting for 40 percent of the country’s total delivery volume.

To boost foreign trade, Shenzhen Airport added six global freight routes this year, and there are now 42 international air destinations accessible by  all-cargo aircrafts. Shenzhen Port opened 24 "sea express lines," which cut transport times by more than a fifth on average. And the China-Europe freight train departing from Shenzhen has already opened 18 routes connecting 41 countries in Europe and Asia.

Editor: Kim Taylor